HRnetGroup (HRnet)

RHB is maintaining its “buy” call and target price of $1.01 on professional and flexible staffing firm HRnetgroup.

HRnetGroup extends contract with MOE for another 4 years.

Other picks include Frencken Group and Fu Yu Corp on the positive outlook for the semiconductor industry.

Jobseekers, recruitment firms and even workers had a trying 2020, which will possibly extend into 2021.

Recently, HRnetGroup has gone through a few rounds of share buybacks on the open market as well. The most active buybacks were made throughout March as well as early April.

“The majority of HRnet’s gross profit exposure is from Singapore and China, with both having a high number of confirmed cases. We therefore expect core earnings for FY20F to shrink by 12% y-o-y before recovering in FY21F,” DBS analysts say.

SINGAPORE (Aug 13): Mainboard-listed recruitment firm HRnetGroup saw its earnings drop 11.5% to $11.5 million for the 2Q19 ended June, from $13.0 million a year ago.

SINGAPORE (Aug 5): HRNetGroup is venturing into Europe via the acquisition of a 25.02% stake in UK-based Staffline for $46.1 million. Staffline is a workforce recruitment and training organisation serving both government and commercial customers in the

SINGAPORE (June 17): Adeline Sim, executive director of recruitment consulting firm HRnetGroup, has been buying shares in the company. On June 6, she bought 35,900 shares at 71 cents each, bringing her direct stake in the company to 400,800 shares. Sim is

SINGAPORE (Feb 22): HRnetGroup reported record earnings of $52.4 million for the FY ended Dec 31 2018, an increase of 12.9% year-on-year.